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8nNewbie

01-05-2005 16:00:08

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Hi,first timer on this board.Long story short.Dad died 1 1/2n yrs ago.I bought out a couple of siblings.Ended up with 150 acres.65 tillable,40 woods and the rest pasture.I had big plans but am soon realising that here in upstate N.Y.I am beating my head against a wall.What am I gonna do with all this land?How is it in other parts of the U.S.?My taxes are about 3000.00 a year including my house and a small barn.Wife is having a fit.Too much money for a hobby farm(2hereford heifers and 2N tractors) not bringing in anything.

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D.L.

01-06-2005 18:14:10

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Re: Need Advice in reply to 8nNewbie, 01-05-2005 16:00:08

I'd have to agree with some of the others, $3K for property taxes seems fairly reasonable to me... paid in excess of $1,500 for a house in town more than 10 years ago... now we have some property of our own. I've always figured if a guy had a few acres, the land could pay for itself with little effort on your part. I'm a world away from your locale, but, here in Wyoming, there's money to be made boarding horses, producing hay, or even raising a couple pigs, beef, or chickens. Lots of people willing to pay GOOD money for food that doesn't have to be handled like hazardous waste. HTH!
regards, D.L.

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johndeereman

01-06-2005 16:29:58

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Re: Need Advice in reply to 8nNewbie, 01-05-2005 16:00:08

do you have any experience with animals? a buddy of mine bought a farm and raises calves for the bigger farmers he has set prices i think he charges 1.50 ahead per day with feed and vet bills included in that price or he charges 75 cents a day and you pick up thefeed bills and vet bills that is all he does for work is raise calves and he went from broke to damn near a millionare good job with all the factory farms going in work a couple hours a day make youre own schedule get rich only downfall is you have to be home everyday or have a dependable hired hand i think im going to start shopping for a small farm now after thinking about it

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dr.sportster

01-06-2005 06:15:24

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Re: Need Advice in reply to 8nNewbie, 01-05-2005 16:00:08

I saw a tv program wher the banker said to the farmer"short of growing marijuana I dont know what to tell you" Of course the end of the story was a nice farm family went to jail.The farmer did say he heard the had grown a good product.Guess he never tried it himself.

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paul

01-05-2005 21:58:46

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Re: Need Advice in reply to 8nNewbie, 01-05-2005 16:00:08

You need to make that investment pay, not cost you. Time is wasting. You will _not_ get to it all next year either. Your tractors will not do it anyhow.

start renting it out. Tillable land has value to people, rent it out.

Can hay be made on the pasture, or is it rough country? Can it or the woods be rented for hunting? Can it be logged? Is the pasture well fenced, anyone want to rent it from you for $20 an acre?

Get people in to help you with this, it's nice to want to do it all, but you need to generate income from that much land.

You have 3 months, start making some phone calls....

These folks will get things in shape for you. Perhaps you want to take over haying, _or_ take over livestock, _or_....

Little steps at a time. Not everything.

You should have no trouble at all generating more than your taxes on this, and not have to do anything yourself. With that wonderful mix, you will be getting checks from several people, so at least they won't all stiff you.

Get on the phone.

Watch what happens, learn, and if you really want to do something, take over one item the following year.

--->Paul

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edchainsaw

01-05-2005 19:39:09

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Re: Need Advice in reply to 8nNewbie, 01-05-2005 16:00:08

$3000.00 of taxes.. HA HA HA trade you property tax bills

on the home place here 90acres.. 55a farmed rest pasture and house and 2 sheds 4 small bins

OVER $12,000

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steveUpNY

01-05-2005 18:10:30

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Re: Need Advice in reply to 8nNewbie, 01-05-2005 16:00:08

Where are all of you up-state new yorkers located...albany area? or further west/north?
just wondering who was close to me.

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jd-tractor

01-05-2005 18:42:15

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Re: Need Advice in reply to steveUpNY, 01-05-2005 18:10:30

Here in God's country (Elba)Midway between Buffalo and Rochester ,north of Batavia. Where are you? Don't tell me you are in that Godforsaken Albany area with them politicians.

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steveUpNY

01-06-2005 02:47:04

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Re: Need Advice in reply to jd-tractor, 01-05-2005 18:42:15

Yes, I do reside in the god-foresaken land of politicians...live in a suburb of albany, own a farm in the duanesburg area (much more rural, further from albany)...mid-sized farm...110ish acres, put up about 4000 small square bales (all we got time for) rent out the rest of the land, no livestock, and am in the process of restoring the farm house (1860's; hasn't been lived in since the 40's; talk about a tough, unending project...i love it though...1.5 years i will be residing in the house)...
buffalo as "god's country" though?...that's a stretch...just kiddin with you...i enjoy the area, have some friends out there, always enjoy visiting them...the Bills have given me enough heart-ache this year to last through for the next 5 years...
any other upstate NYers?

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Brian in NY

01-06-2005 05:45:05

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Re: Need Advice in reply to steveUpNY, 01-06-2005 02:47:04

I hail from the REAL God's country down here in Clymer (extreme SW NY). No politicians, no cities, no nothin but rolling hills and farmland...but it's got its little inconveniences too. My taxes on 15 acres, house and pole barn are $1800 so $3000 seems like a bargain to me. I like the idea of leasing the farmland, woods to hunters, pasture/boarding horses better than selling off plots or doing anything permanent because if you change your mind years down the road the property still belongs to you. I would think that you could easily generate your tax money back without taking away from the property. Good luck and stick with it...in 20 years you will be glad you did.

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farmall300u

01-05-2005 18:03:47

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Re: Need Advice in reply to 8nNewbie, 01-05-2005 16:00:08

Seems to me you need to break this down into its components.
1. Has the 40 acre of woods been inspected and a gameplan developed? Does the woods consist of hardwoods, pine, etc? Any trees worth lumbering? What is price of firewood where you live? Can you harvest/sell enough each year to pay say 50% of your taxes? 25 face cords should yield $1500 dollars.
2. On the tillable acres, can you rent out 50 acres for $30/acre to a farmer nearby? b)What is the hay market like in the NY area you are located in? 65 acres can be profitable, but you will neet a bigger tractor and to find a baler, seeder and something to cut and windrow the hay. Might take you 2-3 years to recover your startup costs. c) Is there any market for turning some part of the 65 acres into a small trailer park? Rural zoning 1-5 acres/trailer?? as you would need to sink a well and septic for each rental space. d) Can you rent out space for parking and storing boats, RV's, etc.?
3. Barn/Pasture -- depending on your life style, I would buy some beef cattle, use the hay and turn these animals over every 2 yrs.

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jd-Tractor

01-05-2005 17:32:21

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Re: Need Advice in reply to 8nNewbie, 01-05-2005 16:00:08

Can't say that you should have much of a complaint,if you are living in the house and have a yard your taxes would be in the neighborhood of that amount,I also live in upstate NY and have House ,garage and 2 acres in the middle of nowhere surround by vegetable land and my taxes are pushing that amt. I have nothing fancy either,Not a very high cost to be able to live in God's country and not in the burbs.

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Allan in NE

01-05-2005 16:22:46

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Re: Need Advice in reply to 8nNewbie, 01-05-2005 16:00:08

Hi 8N,

The wife who is havin' the fits & all is your department. :>)

But, if it were I, I'd be for grabbin' a potload of backgrounders. Perfect sized farm for that if you have the cattle markets in your area.

If not, how's about taking in the ponies to board from the horsey people. They will pay big bucks just to have a place to keep old snort.

Allan

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kyhayman

01-05-2005 16:39:17

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Re: Need Advice in reply to Allan in NE, 01-05-2005 16:22:46

Time to get in or get out :-). First of all, look to see if any marketable timber. Log it out, clean it up. Invest capital in some essentials (fence, livestock, equipment, etc). Develop a business plan. 65 acres clear would be tought to make an economical number of cattle and still harvest hay. Intensive grazing could still put 40 momma cows on with purchasing hay. Wont get rich but will pay the bills. Pasture with horses as the other post said is a good option, could easily put up 50 horses with purcahsed hay. Take the other approach and sell hay to someone who is grazing the stock.

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steveormary

01-05-2005 19:45:30

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Re: Need Advice in reply to kyhayman, 01-05-2005 16:39:17

Allan

Just so I know that you know; horse people aint got no money.

steveormary

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Jerry Cent. Mi.

01-06-2005 05:16:11

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Re: Need Advice in reply to steveormary, 01-05-2005 19:45:30

Everyone knows that you need an outside job to support a farm.

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